# Accounting/Finances

<div align="left" dir="ltr" id="bkmrk-financial-records-mi"><table><colgroup><col width="366"></col><col width="204"></col></colgroup><tbody><tr><td>Financial Records

</td><td>Minimum Retention Period

</td></tr><tr><td>Accounting General Ledger

</td><td>One year + current

</td></tr><tr><td>Audits (Inventory)

</td><td>Until updated + one year

</td></tr><tr><td>Audits (Financial)

</td><td>Permanent

</td></tr><tr><td>Bank Account Records

</td><td>Six years + current

</td></tr><tr><td>Bonded Indebtedness Records and Payments

</td><td>Permanent

</td></tr><tr><td>Budget Preparation Records and Budget Documents

</td><td>Six years + current

</td></tr><tr><td>Insurance Policies

</td><td>Term of Policy

</td></tr><tr><td>Payroll Records

</td><td>Two years + current

</td></tr><tr><td>Pledging Records

</td><td>Three years + current

</td></tr><tr><td>Purchasing Records

</td><td>Two years + current

</td></tr></tbody></table>

</div>